More than 1,200 Australian investors have become …

More than 1,200 Australian investors have become …

Over 1,200 Australian investors have been victims of cryptocurrency scams in 2017

Cryptocurrency fraud has been cited as the reason for over 1,200 complaints filed in 2017 with the Australian consumer protection agency.

The local branch of ABC, citing data from the Australian Competition and Consumer Protection Commission (ACCC), reports 1,289 complaints of this kind, at least some of which are related to campaigns for the sale of cryptocurrency tokens.

The Australian government, unlike the governments of other developed countries, has not yet voiced its opinion on whether it is worth more intense regulation of the sale of tokens and related areas of activity..

Earlier, plans for a closer supervision of cryptocurrencies were expressed, in particular, by the American Securities and Exchange Commission (SEC), after which similar measures began to be discussed in other countries, including the states of the European Union..

While ABC does not disclose which schemes the Australians are complaining about, one investor is known to have suffered financial losses from the controversial Australian exchange Igot. In 2016, after the recognition of insolvency, responsibility for its actions became the burden of the Bitlio exchange.

“These are very speculative products that involve high risk,” John Price, Commissioner for the Australian Securities and Investments Commission (ASIC), told ABC. “There is documentary evidence that many of these projects are fraudulent, so do not invest if you are not prepared to lose some or even all of your funds.”.

More than 1,200 Australian investors have become ...

Some scammers build their scams at the expense of cryptocurrency celebrities – for example, Ethereum co-founder Vitalik Buterin. Recently, he once again warned investors about a Twitter scam who is impersonating him in an attempt to defraud money. This story even made it to some cryptocurrency media, which took the fake at face value..

“Cryptocurrency media are now (albeit due to ignorance / stupidity) complicit in making Twitter fraud seem more plausible.
Also, ECF is NOT an EF initiative; it is an independent community in which some members
EF act as advisors.
Ashamed, ”

More than 1,200 Australian investors have become ...

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